Industrial production increased by 13.4%
In March 2017, industrial output rose by 13.4% year-on-year. Adjusted for working days, the production grew by 10.0%. In January–March 2017, industrial output increased by 7.8%.
In March 2017:
The volume of industrial production increased by 13.4% year-on-year. (Compared to the preliminary data of March published in the first estimate, there was a growth of 0.6 percentage point in the value of the second estimate, which was primarily due to the correction of an especially large error made by a single data supplier, as identified in data checking.)
Industrial output in March – according to the seasonally and working-day adjusted index – was above the level of the previous month by 0.7%.
The volume of industrial export sales rose by 12.8% compared to the same period of the previous year. Within export sales in manufacturing, the exports of transport equipment, representing 35% grew by 13.3%. In the manufacture of computer, electronic and optical products – accounting for 15% of manufacturing exports –, the export volume increased even at a higher rate than in the previous one, by 19.5%.
Industrial domestic sales went up by 5.7%, within this, the domestic sales of manufacturing were 9.6% higher year-on-year.
Out of the sections of industry, production grew by 14.1% in manufacturing representing a decisive weight (96%) and by 17.7% in mining and quarrying having little weight. The output of energy industry (electricity, gas, steam and air-conditioning supply) declined by 5.2%.
Changes in the production and sales of manufacturing
(%)
| Period | Production | Total | Domestic | Export | Share of export in sales at current prices | |
|---|---|---|---|---|---|---|
| sales | ||||||
| Volume index, corresponding period of previous year = 100.0 | ||||||
| 2015 | 108.0 | 108.2 | 106.7 | 108.7 | 74.9 | |
| 2016 | 101.4 | 101.4 | 101.7 | 101.3 | 75.1 | |
| 2017 | January | 106.4 | 106.3 | 102.3 | 107.6 | 77.0 |
| February | 102.7 | 99.9 | 95.7 | 101.2 | 77.0 | |
| March | 114.1 | 112.2 | 109.6 | 113.1 | 76.0 | |
| From the beginning of the year | 107.8 | 106.2 | 102.7 | 107.3 | 76.6 | |
Production rose in all the thirteen subsections of manufacturing . In addition to the one more working days, it also contributed to the outstanding performance of the manufacturing subsections that Easter holidays were in March last year and in April this year.
The production of transport equipment representing 29% of the manufacturing output rose by 11.3%. The manufacture of motor vehicles and the manufacture of parts and accessories for motor vehicles giving a combined share of 96% of the output in transport equipment went up a similar rate, by 10.4% and 10.9%, respectively. This good performance was also reflected in the orders indicators of this subsection.
The manufacture of computer, electronic and optical products accounting for 12% in manufacturing rose surpassingly, by 23% year-on-year. Within the industry, the manufacture of consumer electronics having the largest weight increased by 33% and the manufacture of communication equipment grew by 34%. A decrease (2.3%) was seen only in the manufacture of computer, electronic and optical products.
The manufacture of food products, beverages and tobacco products giving one tenth of manufacturing went up by 8.1%. Increases were measured in all groups of the subsection. The largest group (representing 24% of the subsection), the processing and preserving of meat and the production of meat products rose by 2.2%, while the manufacture of vegetable and animal oils and fats grew the most, by 29% year-on-year.
Out of the subsections, the manufacture of machinery and equipment n.e.c. having a medium weight rose at the highest rate of 31%, as a result of a recovery in both domestic and export sales, but the production grew above the manufacturing average in the other two subsections with medium weight as well: the manufacture of basic metals and fabricated metal products increased by 19.2%, while the manufacture of rubber and plastics products, and other non-metallic mineral products went up by 15.1%.
The manufacture of pharmaceuticals, medicinal chemical and botanical products rose surpassingly, by 29%, partly owing to the low base effect, and a strong, 17% growth was observed in the manufacture of coke and petroleum products as well.
The rate of growth accelerated in the manufacture of textiles, wearing apparel, leather and related products having the smallest weight: the volume of production went up by 15.6%, mainly as a result of an expansion in export demands.
Significant subsections of manufacturing, March 2017
(%)
| Subsections | Volume indices of production, corresponding period of previous year = 100.0 | Share of subsection within manufacturing at current prices | |
|---|---|---|---|
| code | denomination | ||
| CA | Manufacture of food products, beverages and tobacco products | 108.1 | 10.1 |
| CG | Manufacture of rubber and plastics products, and other non-metallic mineral products | 115.1 | 8.0 |
| CH | Manufacture of basic metals and fabricated metal products, except machinery and equipment | 119.2 | 8.0 |
| CI | Manufacture of computer, electronic and optical products | 122.6 | 12.4 |
| CK | Manufacture of machinery and equipment n.e.c. | 130.9 | 7.5 |
| CL | Manufacture of transport equipment | 111.3 | 28.6 |
Total new orders in the observed subsections of manufacturing grew by 13.4% compared to the same month of 2016. The volume of new export orders increased by 14.6%, while that of new domestic orders went up by 5.5%. The volume of total stock of orders was above the level of March 2016 by 1.2%.
In January–March 2017, compared to the same period of the previous year:
Industrial production rose by 7.8%. The volume of export sales representing 65% of all sales grew by 7.9%, while that of domestic sales accounting for 35% of all sales increased by 5.1%.
The labour productivity of industrial enterprises with 5 or more employees rose by 4.3% along with a 3.1% increase in the number of employees.
Industrial production rose in every region of Hungary. The largest volume growth was measured in Western Transdanubia Hungary (9.8%), while the lowest in Central Hungary (5.3%).